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Over 140,000 UK retail jobs were shed in 2019: CRR

January 06, 2020 / fibre2fashion

Over 140,000 UK retail jobs, or 2,750 jobs a week, were slashed over the course of 2019, according to the Centre for Retail Research (CRR). This is the highest rate of job cuts in 25 years on high-traffic shopping areas, called ‘high streets’, and marks a rise of more than 20% year-over-year, compared to the 117,400 jobs that were shed in 2018, the report said. Store closures also increased. This year, 16,073 UK shops (about 61 per day) were shuttered, up from 14,583 total closures the previous year. About 38,100 jobs were lost due to stores going bust, including Karen Millen and Coast, but the majority of job cuts (roughly 78,600) occurred as retailers made adjustments to cut costs, according to British media reports.